ARCIS close fourth secondaries fund on EUR354m

Fund

ARICS Group, a secondaries private equity group, has held a final close of their fourth fund, ESD Fund IV, on EUR354m. ARCIS' previous fund closed in 2004 on EUR175m. The fund was launched a year ago and closes ahead of its EUR350m target.

Investors

Geographically, around 50% of the investors in the fund came from the US with the remainder coming from Europe, Asia and the Middle East. The investors are comprised of insurance companies, pension funds, family offices, foundations and endowments as well as a sovereign wealth fund from the Middle East. Two thirds of the capital comes from investors in the previous funds which have returned and increased their allocations.

Investments

The fund will seek to invest in secondary transaction purchases of Western European Private Equity funds and in the portfolios of European PE backed firms. The fund will seek to make investments of EUR10-50m on average with the possibility of top end deals of around EUR200m in size. The fund has already used around 20% of its capital for investments in the UK, France, Germany and the Benelux region. Investments include the purchase of a portfolio of private equity interests held by a large European company and a couple of portfolio purchases of direct equity positions in companies.

People

Arnaud and Henri Isnard, Mark Burch and Romain Bouche lead a team which will manage the fund from ARCIS' Paris, London and New York offices.

Name: ESD Fund IV

Fourth close: EUR354m

Focus: Secondaries

Contact: Arnaud Isnard

Address: ARCIS Capital Ltd.

2 Savile Row

London W1S 3PA

United Kingdom

Tel: +44 20 7494 2110

Fax: +44 20 7494 2105

Advisers: Dewey & Leboeuf (legal).

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• Topics
• Secondaries
• UK / Ireland
• DACH
• Nordics
• France
• Southern Europe
• Benelux
• CEE